Tuesday, November 09, 2021

18 Billionaires Received Taxpayer-Funded Stimulus Checks During The Pandemic

 “You have their involvement disguised or concealed by a $2 company with directors who are associates of the Obeids, but with a different surname,” he says.

“They love a little trustee, a discretionary trust in which these people who are cooperative agree to hold benefits on trust for the Obeid family.”

The sleepy seaside town of Hawks Nest in the Obeids' sights - ABC

He was a criminal hacker. Now he protects companies from people like him.

Former hacker Bastian Treptel reveals how you can keep your data secure

You may want to listen to this episode. Cyber security expert Bastien Treptel breaks down the latest topics 

The warning emerged just one day after the Australian Financial Review published a report detailing how the ATO was aware that it lacked a dedicated “oversight committee”, five months into the program. However, some said the report was “overblown”. 

ATO urges caution on publication of JobKeeper documents, responding to reports

55 corporations paid no federal income tax in 2020

“Senators Warren, King, and Wyden Announce Updated Proposal To Prevent The Biggest And Most Profitable Corporations From Paying Nothing In Federal Taxes. The Corporate Profits Minimum Tax Would Raise Hundreds of Billions in Revenue While Creating a Fairer Tax System. Updated Proposal to be Included as a Pay-for in the Build Back Better Plan…”

ProPublica: 18 Billionaires Received Taxpayer-Funded Stimulus Checks During The Pandemic

ProPublica, using its trove of IRS records, identified at least 18 billionaires who received stimulus payments, which were funded by U.S. taxpayers, in the spring of 2020. Hundreds of other ultrawealthy taxpayers also got checks.

The wealthy taxpayers who received the stimulus checks got them because they came in under the government’s income threshold. In fact, they reported way less taxable income than that — even hundreds of millions less — after they used business write-offs to wipe out their gains.

ProPublica found 270 taxpayers who collectively disclosed $5.7 billion in income, according to their previous tax return, but who were able to deploy deductions at such a massive scale that they qualified for stimulus checks. All listed negative net incomes on tax returns.

Prior coverage:

Many workers are reaching a breaking point after more than a year of life with COVID-19.

Is human consciousness creating reality? Big Think Exceptionalism reaches a new level.

‘Useless Specks of Dust’ Turn Out to Be Building Blocks of All Vertebrate Genomes Science Alert   Hhm, “…from dust to dust” pretty accurate after all. 

It’s Really Weird How Little We Talk About Humanity’s Imminent Doom Caitlin Johnstone Not necessarily humanity but what we consider to be civilization. 

Satellite images show new Russian military buildup near Ukraine Politico 


Nord Stream 2 Is Still Months From Easing Europe’s Gas Woes Bloomberg

Facebook to end use of facial recognition software BBC


The Booming Underground Market for Bots That Steal Your 2FA Codes Vice 


Lifehacker - 10 Privacy Settings Every Amazon User Should Enable Right Now – “Amazon is so deeply entrenched in our lives that we all have a ton of info connected with the company. Even if you somehow haven’t directly used Amazon for shopping, you probably have used a Kindle, an Echo, or simply asked Alexa a question or two. If you’ve had a brush with Amazon anywhere, you should take a look at your account to check if your privacy settings are in order…and there are quite a few preferences that you should tweak for better privacy, or simply for a better user experience…”